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ECB’s Reasons to Blink Mount as Powell Shifts on Inflation

  • Euro-area officials still insist price spike mostly transitory
  • Emergence of omicron virus strain risks halting recovery
Christine Lagarde
Christine LagardePhotographer: Alex Kraus/Bloomberg

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The European Central Bank’s insistence that surging consumer prices won’t endure is being tested so repeatedly that inflation now threatens to overshadow a meeting in two weeks time to revamp pandemic stimulus.